Technological Advances in Recovery Methods and Efficient Allocation of a Nonrenewable Resource

Rowse, John

doi:10.1007/978-1-4615-4953-6_2

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2008

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“…Hyperbolic discounting may also be used in energy economic models with shorter time horizons. Building on work by Rowse (1990aRowse ( , 1997Rowse ( , 1999, this research utilizes a complex numerical model of natural gas allocation to examine hyperbolic discounting. Four hyperbolic and three conventional discount rate paths are considered.…”

Section: Discussionmentioning

confidence: 99%

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On Hyperbolic Discounting in Energy Models: An Application to Natural Gas Allocation in Canada

Rowse¹

2008

The Energy Journal

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Recent work on time discounting involves hyperbolic discounting, in which the marginal discount rate shrinks over time. This work examines hyperbolic discounting and energy resource allocation utilizing a complex dynamic optimization model of natural gas allocation for British Columbia, Canada. Four hyperbolic and three conventional (constant annual) discount rate paths are considered. Focus is placed on the consequences: of using one hyperbolic discount rate path when another hyperbolic path is appropriate, of using conventional discounting when hyperbolic discounting is appropriate, and of using hyperbolic discounting when conventional discounting is appropriate. The generality and implications of the findings are also considered.

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Section: Discussionmentioning

confidence: 99%

“…Analysis is performed using a model of natural gas allocation for the Canadian province of British Columbia (BC). Utilized by Rowse (1997Rowse ( , 1999 to examine other issues, for this work the model was converted to the GAMS programming language (Brooke et al 2005) and modified to simplify model use. The 1.…”

Section: The Computational Modelmentioning

confidence: 99%

On Hyperbolic Discounting in Energy Models: An Application to Natural Gas Allocation in Canada

Rowse¹

2008

The Energy Journal

Self Cite

View full text Add to dashboard Cite

show abstract

Technological Advances in Recovery Methods and Efficient Allocation of a Nonrenewable Resource

Cited by 1 publication

References 9 publications

On Hyperbolic Discounting in Energy Models: An Application to Natural Gas Allocation in Canada

On Hyperbolic Discounting in Energy Models: An Application to Natural Gas Allocation in Canada

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